CryptoCubic
Short

GBPJPY SHORT TRADE SETUP

FX:GBPJPY   British Pound / Japanese Yen
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3
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Detailed on the chart
Hi.
This is my analysis of NZDJPY on the W1.
Posted this idea a week ago and is currently nearing my BUY zone.

Thought i would input my comment here since we are on NZDJPY :).

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CryptoCubic PriceActionTrading
On weekly seems like a range at the moment, but good luck
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Hello, be carefull, the bullish momentum is becoming strong on all GBP pairs. Take a look at D1 charts of GBP related pairs: GPBNZD, GBPAUD, GBPCAD, GBPCHF... this can give you a better direction. Best regards
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CryptoCubic FullTimeTrader
Agree on gbp strength, but jpy should be stronger for few days at least, after that trade will expire
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FullTimeTrader CryptoCubic
I wish this trade will work. From my personal experience its better to think consistently: we cannot have a bullish bias on all GBP pairs and a bearish bias on this one. It a game of probabilities: now a bullish direction is more probable
+1 Reply
CryptoCubic FullTimeTrader
again agree, but if strategy says go, I go ... these are the rules, in any case the exposure is minimal on this setup
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Salty FullTimeTrader
I was always a big proposer of divergences, and on stochastics seeing that H4 and Daily are showing bullish divergence and US CB indicator showing a better than expected improvement I would say that it is more probable to see an uprise toward 38.2 fibonacci, anyway this idea may still work in a short-term setting.
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Salty Salty

Just sharing my chart
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Thank you for sharing, but consider tomorrow's news on JPY, I think it will give it a lot of strength, making GBPJPY weaker than any other GBPXXX
+1 Reply
Salty CryptoCubic
Partially agree, I'd would say EURJPY is the most fragile, technically and fundamentally as well. Anyway I hope that your trade will be a winner one.
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